Litecoin is most likely bitcoin’s closest rival in terms of the use case. Founder Charlie Lee has, on many situations, explained the cryptocurrency can be utilised for payments due to the fact it’s quicker than bitcoin.

Litecoin transactions get just in excess of two minutes to go as a result of, as opposed to an typical of around approximately 300 minutes for bitcoin.

There is a confined provide of 84 million litecoins, in contrast to 21 million bitcoin. At this time, 54,293,533 litecoin and 16,740,175 bitcoin are in circulation.

“Litecoin is very similar to bitcoin besides it has four situations as quite a few cash. It is also four times more rapidly,” Lee advised CNBC in a Television job interview earlier this 7 days.